Businesses in the retail, hospitality and leisure sectors will be closed until at least mid-February following the Prime Minister’s announcement yesterday, 4 January, and the grants are expected to benefit over 600,000 business properties, worth £4 billion in total across all nations of the UK.
Further support
The one-off grant comes in addition to existing business support, including grants worth up to £3,000 for closed businesses, and up to £2,100 per month for impacted businesses once they reopen.
The UK Government has also provided 100 per cent business rates relief for retail, hospitality and leisure businesses, £1.1 billion existing discretionary funding for Local Authorities, the furlough scheme extended to April and 100 per cent Government-backed loans, extended until March.
A further £594 million is also available for local authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions. Businesses should
Throughout the pandemic we’ve taken swift action to protect lives and livelihoods and today we’re announcing a further cash injection to support businesses and jobs until the Spring.
This will help businesses to get through the months ahead – and crucially it will help sustain jobs, so workers can be ready to return when they are able to reopen.
